Chinese equities edged down 0.19 percent on Wednesday, declining for the first time in four trading days following an overnight slump on Wall Street as investors were disappointed the new Financial Stability Plan did not offer more details on buying toxic assets.

The Shanghai A-share index fell 4.34 points, or 0.19 percent, to close at 2,260.82, but the Shenzhen Component Index was up 0.29 percent, or 23.66 points, to 8,289.21.

Combined turnover was 267.93 billion yuan (US$39.23 billion), up from 213.81 billion yuan on the previous day.

US Treasury Secretary Timothy Geithner announced a comprehensive Financial Stability Plan on Tuesday morning, unveiling a new bailout package that could top US$1.5 trillion to restore the US ailing financial system. However, Geithner failedto provide more details on the plan.

Overnight, the Dow Jones fell 381.99, or 4.62 percent, to 7,888.88. The Standard & Poor's 500 index dropped 42.72, or 4.91 percent, to 827.17 and the Nasdaq slid 66.83, or 4. 20 percent, to 1524.73.

Nonferrous metal shares lowered on profit-taking, erasing previous gains. Jiangxi Copper Corp. lost 2.5 percent to 17.95 yuan. Shares of the Tongling Nonferrous Metals Group was down 4.68 percent to 10.38 yuan. Yunnan Aluminium Co. Ltd. shed 2.02 percentto 6.78 yuan.

Beverage producer shares, however, rose on talks that the government is going to approve a stimulus plan for the light industries.

According to media reports, the plan included lowering consumption taxes on alcohol, cosmetics and luxury products.

Kweichow Moutai Co. Ltd., China's best-known liquor producer, jumped 3.55 percent to 120.09 yuan. Wuliangye Group, another famous liquor producer, surged 8.35 percent to 17.9 yuan.

Cement manufacturer shares also rose because investors bet on the sector's increasing profit this year as the country's infrastructure construction would boost demand, a China Merchants Securities analyst said.

Shares of both Fujian Cement Co. Ltd. and Hebei Taihang Cement Co. Ltd. gained by the daily limit of 10 percent to 5.5 yuan and 7.51 yuan, respectively. Jidong Cement Group added 4.49 percent to 5.94 yuan.

(Xinhua News Agency February 11, 2009)